Key highlights:
- Tether donates $250,000 to OpenSats to support Bitcoin and open-source projects that promote user privacy and freedom.
- Tim Draper predicts Bitcoin could hit $250,000 within a year, calling it a superior, self-auditing system compared to fiat money.
- Bitcoin ETFs saw mixed flows, with U.S. Bitcoin Spot ETFs facing $94M outflows while Ethereum ETFs recorded $5.32M inflows.
The world’s largest stablecoin issuer, Tether has announced a $250,000 donation to OpenSats.
Tether Donates For Bitcoin Cause
OpenSats is a nonprofit organization that supports developers and projects which are building Bitcoin and other open-source, censorship-resistant technologies.
As per the official statement, the contribution represents Tether’s long-standing commitment to Bitcoin and the broader free software ecosystem. The donation is critical as it comes at a time when open-source funding is seen as an important aspect of advancing privacy tools, decentralized infrastructure, and public education around Bitcoin’s future.
OpenSats is a 501(c)(3) public charity and has become one of the most transparent and impactful funding organizations in the Bitcoin ecosystem. The nonprofit will devote 100% of donations directly to grantees, developers, researchers, designers, educators, and other contributors, who are working to create free and open technologies that protect user freedom and privacy.
Tether’s donation will help OpenSats by backing its operations and grant-making programs. These programs in turn, fund a variety of projects from Bitcoin protocol improvements to privacy-focused research and educational initiatives.
“We at Tether believe that Bitcoin, and the free, open-source software that powers it, are indispensable to a freer and decentralized future,” said Paolo Ardoino, CEO of Tether. Ardoino added that OpenSats is at the front line supporting the continued growth of this ecosystem by funding the next generation of innovators.
Built to create a sustainable funding model for Bitcoin and open-source development, OpenSats operates with full transparency. Donors can contribute to specific causes or to a general fund, with every grant reviewed by a nine-member board.
“OpenSats has provided over 300 grants to developers working on freedom tech projects,” said Matt Odell, Co-founder of OpenSats. “Support from Tether will help us continue to scale our mission globally.”
The organization revealed that it does not take a cut from donations to fund its operations. Instead, it runs a separate operations budget to maintain independence and ensure that every cent of donor funds goes directly to open-source contributors.
This latest donation reinforces Tether’s broader vision of supporting public goods and decentralized innovation, aligning with its past efforts to promote education, infrastructure, and open research within the Bitcoin ecosystem.
Even amid short-term price fluctuations in the crypto market, investor sentiment around Bitcoin remains mostly positive. At the time of writing, Bitcoin was trading at $110,374, down 1.5% in the past 24 hours but maintaining strong long-term momentum.
Tim Draper’s Renewed Bitcoin Prediction
Adding to the optimism, venture capital tycoon Tim Draper recently shared his bullish stance on Bitcoin during a live interview on CNBC. Draper predicted that Bitcoin could surpass $250,000 within the next 12 months, citing its technological superiority and resilience.
“One Bitcoin will always be worth one Bitcoin,” Draper said. “But the dollar is constantly depreciating and will eventually go to zero.”
He emphasized Bitcoin’s strengths as a transparent, self-auditing system that eliminates the need for intermediaries and reduces trust costs. Draper compared those who resist adopting Bitcoin to “fighting an opponent with gunpowder while armed only with a knife.”
On the other hand, speaking of institutional Bitcoin investment, US Bitcoin Spot ETF saw a shocking outflow of $94.00M after a day of inflow and had a cumulative total net inflow of $62.45 billion. On the contrary, US Ethereum Spot ETF saw a daily net inflow of $5.32 Million, and recorded a cumulative total net inflow of $14.72 billion.
Also Read: $200,000 Binance Donation to Malta Remains Unclaimed, Now Worth $39 M
